AOL and Yahoo plan to call themselves by a new name after the Verizon deal closes: Oath

When
Verizon merges Yahoo with AOL after its acquisition of Yahoo
closes, the newly created division will get a new name.

That new name is Oath, sources tell Business Insider.

In a deal that was announced in July, Verizon will acquire
Yahoo's core internet business for about $4.8 billion in cash.

Yahoo will be merged with Verizon's AOL unit under Marni Walden,
the executive vice president and president of product innovation
and new businesses, with Verizon scooping up Yahoo's search,
mail, content, and ad-tech businesses.

In January, Yahoo announced
in a Securities and Exchange Commission filing that after the
close of the merger, the parts of Yahoo that Verizon is not
buying - which includes Yahoo's 15% of the Chinese retail giant
Alibaba and a part of Yahoo Japan, a joint venture with SoftBank
- would continue under the name Altaba.

It's unclear if the Yahoo name will live on for any part of the
internet business that will be run by AOL. However, a big new
branding campaign is expected in the coming weeks, along with
more details about the new company.

Yahoo declined to comment on the new name. While an AOL
spokeswoman neither confirmed nor denied the new name, she told
us to watch for the "launching" of the new company.

"In the summer of 2017, you can bet we will be launching one of
the most disruptive brand companies in digital," she said.

The Yahoo-Verizon deal is supposed to close in the second quarter
of 2017, perhaps on or before April 24. After April 24, the
parties can seek a three-month extension, but there's also an
opening for either
party to terminate the deal.